Mortgage bankers report applications declined 1.2 percent for the week ending March 2, as refinancing activity slowed. The Mortgage Bankers Association (MBA) reports loan applications fell 1.2 percent on a seasonally adjusted basis, while the refinance index decreased 2 percent from the previous week. Also according to the report, investors made up 6.1 percent of home purchase applications in February, compared to 6.4 percent in January as demand declined in New England.The 30-year, FRM backed by FHA increased to 3.87 percent.
